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30/06/2023
2023-06-30
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No description of principal activities is disclosed
2022-07-01
Sage Accounts Production 23.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
06925358
2022-07-01
2023-06-30
06925358
2023-06-30
06925358
2022-06-30
06925358
2021-07-01
2022-06-30
06925358
2022-06-30
06925358
2021-06-30
06925358
core:LandBuildings
core:LongLeaseholdAssets
2022-07-01
2023-06-30
06925358
core:LandBuildings
core:ShortLeaseholdAssets
2022-07-01
2023-06-30
06925358
core:FurnitureFittingsToolsEquipment
2022-07-01
2023-06-30
06925358
core:OnerousContractsExcludingVacantProperties
2022-07-01
2023-06-30
06925358
bus:RegisteredOffice
2022-07-01
2023-06-30
06925358
bus:LeadAgentIfApplicable
2022-07-01
2023-06-30
06925358
bus:Director1
2022-07-01
2023-06-30
06925358
bus:Director2
2022-07-01
2023-06-30
06925358
core:WithinOneYear
2023-06-30
06925358
core:WithinOneYear
2022-06-30
06925358
core:LandBuildings
core:LongLeaseholdAssets
2022-06-30
06925358
core:LandBuildings
core:ShortLeaseholdAssets
2022-06-30
06925358
core:FurnitureFittingsToolsEquipment
2022-06-30
06925358
core:LandBuildings
core:LongLeaseholdAssets
2023-06-30
06925358
core:LandBuildings
core:ShortLeaseholdAssets
2023-06-30
06925358
core:FurnitureFittingsToolsEquipment
2023-06-30
06925358
core:AfterOneYear
2023-06-30
06925358
core:AfterOneYear
2022-06-30
06925358
core:ShareCapital
2023-06-30
06925358
core:ShareCapital
2022-06-30
06925358
core:RetainedEarningsAccumulatedLosses
2023-06-30
06925358
core:RetainedEarningsAccumulatedLosses
2022-06-30
06925358
core:LandBuildings
core:LongLeaseholdAssets
2022-06-30
06925358
core:LandBuildings
core:ShortLeaseholdAssets
2022-06-30
06925358
core:FurnitureFittingsToolsEquipment
2022-06-30
06925358
bus:Director1
2022-06-30
06925358
bus:Director1
2023-06-30
06925358
bus:Director1
2021-06-30
06925358
bus:Director1
2022-06-30
06925358
bus:Director1
2021-07-01
2022-06-30
06925358
bus:SmallEntities
2022-07-01
2023-06-30
06925358
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2022-07-01
2023-06-30
06925358
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2022-07-01
2023-06-30
06925358
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2022-07-01
2023-06-30
06925358
bus:PrivateLimitedCompanyLtd
2022-07-01
2023-06-30
06925358
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2022-07-01
2023-06-30
06925358
core:OtherRelatedParties
2021-07-01
2022-06-30
06925358
core:ComputerEquipment
2022-07-01
2023-06-30
06925358
core:ComputerEquipment
2022-06-30
06925358
core:ComputerEquipment
2023-06-30
06925358
core:OtherRelatedParties
2022-06-30
06925358
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2022-07-01
2023-06-30
06925358
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2022-07-01
2023-06-30
Company registration number:
06925358
Barbican Kitchen Limited
Unaudited filleted financial statements
30 June 2023
BARBICAN KITCHEN LIMITED
DIRECTORS AND OTHER INFORMATION
|
|
|
|
Directors |
Mr C M Tanner |
|
|
Mr J E Tanner |
|
|
|
|
|
|
|
Company number |
06925358 |
|
|
|
|
|
|
|
Registered office |
60 Southside Street |
|
|
The Barbican |
|
|
Plymouth |
|
|
Devon |
|
|
PL1 2LQ |
|
|
|
|
|
|
|
Accountants |
Westcotts |
|
|
Plym House |
|
|
3 Longbridge Road |
|
|
Plymouth |
|
|
Devon |
|
|
PL6 8LT |
|
|
|
BARBICAN KITCHEN LIMITED
STATEMENT OF FINANCIAL POSITION
30 JUNE 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
27,575 |
|
|
|
23,338 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
27,575 |
|
|
|
23,338 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
9,578 |
|
|
|
10,252 |
|
|
Debtors |
|
6 |
135,637 |
|
|
|
159,022 |
|
|
Cash at bank and in hand |
|
|
54,314 |
|
|
|
96,946 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
199,529 |
|
|
|
266,220 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
7 |
(
163,929) |
|
|
|
(
157,488) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
35,600 |
|
|
|
108,732 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
63,175 |
|
|
|
132,070 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
8 |
|
|
(
22,390) |
|
|
|
(
29,683) |
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
6,546) |
|
|
|
(
5,410) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
34,239 |
|
|
|
96,977 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
1,000 |
|
|
|
1,000 |
Profit and loss account |
|
9 |
|
|
33,239 |
|
|
|
95,977 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
34,239 |
|
|
|
96,977 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
19 March 2024
, and are signed on behalf of the board by:
Mr C M Tanner
Director
Company registration number:
06925358
BARBICAN KITCHEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 60 Southside Street, The Barbican, Plymouth, Devon, PL1 2LQ.
Principal activity
The principal activity of the company in the year under review was that of restauranteurs.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the continued support from the company's directors.The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Improvements to property |
- |
5 % |
reducing balance |
|
Short leasehold property |
- |
5 % |
reducing balance |
|
Fittings fixtures and equipment |
- |
15 % |
reducing balance |
|
Computer equipment |
- |
33 % |
straight line |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the performance model. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at theend of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
22
(2022:
23
).
5.
Tangible assets
|
|
Long leasehold property |
Short leasehold property |
Fixtures, fittings and equipment |
Computer equipment |
Total |
|
|
|
|
£ |
£ |
£ |
£ |
£ |
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 July 2022 |
1,355 |
5,501 |
96,325 |
10,612 |
113,793 |
|
|
|
Additions |
- |
- |
1,513 |
6,896 |
8,409 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 30 June 2023 |
1,355 |
5,501 |
97,838 |
17,508 |
122,202 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 July 2022 |
661 |
2,677 |
77,577 |
9,540 |
90,455 |
|
|
|
Charge for the year |
35 |
141 |
2,874 |
1,122 |
4,172 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 30 June 2023 |
696 |
2,818 |
80,451 |
10,662 |
94,627 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 30 June 2023 |
659 |
2,683 |
17,387 |
6,846 |
27,575 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 30 June 2022 |
694 |
2,824 |
18,748 |
1,072 |
23,338 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
135,340 |
86,074 |
|
Other debtors |
|
297 |
72,948 |
|
|
|
_______ |
_______ |
|
|
|
135,637 |
159,022 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
10,000 |
10,000 |
|
Trade creditors |
|
31,499 |
22,361 |
|
Accruals and deferred income |
|
5,783 |
4,640 |
|
Social security and other taxes |
|
46,703 |
57,716 |
|
Other creditors |
|
69,944 |
62,771 |
|
|
|
_______ |
_______ |
|
|
|
163,929 |
157,488 |
|
|
|
_______ |
_______ |
|
|
|
|
|
The bank loan shown above benefits from a government guarantee.
8.
Creditors: amounts falling due after more than one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
19,946 |
29,683 |
|
Other creditors |
|
2,444 |
- |
|
|
|
_______ |
_______ |
|
|
|
22,390 |
29,683 |
|
|
|
_______ |
_______ |
|
|
|
|
|
The bank loan shown above benefits from a government guarantee.
9.
Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
10.
Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
|
|
|
2023 2022 £ £ |
Not later than 1 year 30,000 30,000 Later than 1 year and not later than 5 years 30,000 60,000 _______ _______ 60,000 90,000 _______ _______ |
11.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Directors |
(
13,011) |
46 |
(
12,965) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
2022 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Directors |
(
21,358) |
8,347 |
(
13,011) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
Directors' loans are repayable on demand and subject to interest on overdrawn balances at the official rate.
12.
Related party transactions
During the year the company entered into the following transactions with related parties:
|
|
Transaction value |
|
Balance owed by/(owed to) |
|
|
|
2023 |
2022 |
2023 |
2022 |
|
|
£ |
£ |
£ |
£ |
|
Tanners LLP |
(
73,727) |
2,566 |
- |
73,727 |
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
Tanners LLP is an LLP in which both company directors of the reporting entity are members.
13.
Controlling party
The ultimate controlling party is the parent company, Tanners Holdings Limited, by virtue of its 100% shareholding. The registered office of Tanners Holdings Limited is Barbican Kitchen Ltd, 60 Southside Street, Plymouth, Devon, PL1 2LQ
14.
Exceptional related party transactions
During the year £23,443 was written off as an amount owed from a related party, Tanners LLP. This is as a result of the entity ceasing to trade from 30/06/23 and the amount becoming irrecoverable.